Wouch Maloney, Author at Wouch Maloney CPAs & Business Advisors

Contractor Newsletter – March/April 2020

April 30, 2020 in Contractor Newsletter /by Wouch Maloney

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$484B Paycheck Protection Program and Health Care Enhancement Act Signed Today

April 24, 2020 in Business Advisory /by Wouch Maloney

We are ending the week on a better note than last. The House passed the Paycheck Protection Program and Health Care Enhancement Act, and President Trump signed the bill earlier today which will add $484B to help small businesses, hospitals and first responders, as well as increase nationwide testing for coronavirus. With news that States are reopening businesses, and […]

Construction Resumes in Pennsylvania on May 1st

April 23, 2020 in Construction /by Wouch Maloney

It’s a better week for the construction industry in Pennsylvania. On Monday, Gov. Wolf announced construction could resume on May 8th. On Wednesday, Gov. Wolf announced that the date has been moved to May 1st. This news brings much relief during the unprecedented closure of businesses during the COVID-19 pandemic. PennLive.com reported that “specifics were […]

CARES Act Regulations on Loan Forgiveness Due On or About April 27th

April 21, 2020 in Client News Alerts /by Wouch Maloney

There is a lot of information and misinformation on social media and other outlets regarding loan forgiveness within the CARES Act. There still are many questions that need answers. The President signed H.R.748, The CARES Act, on March 27th. As stated in §1106 Loan Forgiveness, Item (k) Regulations.—Not later than 30 days after the date […]

Pennsylvania Construction Projects to Resume on May 8th

April 20, 2020 in Construction /by Wouch Maloney

Good news for the construction industry in Pennsylvania. All public and private residential and non-residential construction projects throughout the state may resume beginning May 8, 2020. Construction will be permitted as authorized by the Governor’s and Secretary of Health’s April 20, 2020, amendments to their business closure orders. Strict compliance orders with impending guidance are […]

SBA Publishes Report on Paycheck Protection Program Loan Approvals

April 17, 2020 in Business Advisory /by Wouch Maloney

It’s been a whirlwind week. Payroll Protection Program Loans are getting finalized and the traditional Tax Day came and went. We have new projects to focus on: the July 15th deadline and PPP Loan compliance. We will also have a focus on assisting businesses with cash flow management and budgeting in the challenging times ahead. […]

ANSWERS TO QUESTIONS ABOUT THE CARES ACT EMPLOYEE RETENTION TAX CREDIT

April 7, 2020 in Business Advisory /by Wouch Maloney

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result […]

Next Steps for Paycheck Protection Program Loan Approvals

April 7, 2020 in Business Advisory /by Wouch Maloney

It’s been quite a tumultuous time, and we are happy to hear from clients who successfully applied and received loans through the Paycheck Protection Program (PPP). We also want to thank the bankers and lenders who worked tirelessly helping small business owners who applied for a loan through the PPP. The prelude to the opening […]

Applications for Paycheck Protection Program Loans Open April 3, 2020

April 3, 2020 in Business Advisory /by Wouch Maloney

We hope everyone is prepared with their loan applications for the Paycheck Protection Program. The U.S. Treasury Department, the Small Business Administration and all banks have been working overtime to get money to small business owners so they can use it for payroll and other expenses. As most of you know, the original CARES Act left […]

IRS Form 7200 Now Available for Employers Taking the Employee Retention Credit, Family Leave or Sick Leave Credit Due to COVID-19

April 1, 2020 in Business Advisory /by Wouch Maloney

On March 31, 2020, the IRS published instructions for eligible employers of businesses and tax-exempt organizations with fewer than 500 employees to claim refundable tax credits by completing Form 7200 for advanced payment of employer credits due to COVID-19 including qualified sick and qualified family leave wages and the employee retention credit. As stated in […]

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$484B Paycheck Protection Program and Health Care Enhancement Act Signed Today

Construction Resumes in Pennsylvania on May 1st

CARES Act Regulations on Loan Forgiveness Due On or About April 27th

Pennsylvania Construction Projects to Resume on May 8th

SBA Publishes Report on Paycheck Protection Program Loan Approvals

ANSWERS TO QUESTIONS ABOUT THE CARES ACT EMPLOYEE RETENTION TAX CREDIT

Next Steps for Paycheck Protection Program Loan Approvals

Applications for Paycheck Protection Program Loans Open April 3, 2020

IRS Form 7200 Now Available for Employers Taking the Employee Retention Credit, Family Leave or Sick Leave Credit Due to COVID-19

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